In a November 13th press release, The Cardano Foundation “announced that Michael Parsons, Chairman of the Foundation Council of the Cardano Foundation, has resigned with immediate effect. Pascal Schmid, Council Member, will take over as Chairman of the Foundation Council on an interim basis. “
In the above video, Charles Hoskinson discusses the change and expresses that the Cardano Foundation needs to spend the next few months re-establishing itself.
Hoskinson outlined three things he believes needs to be done.
- The foundation needs to restore credibility and trust with the community
- The foundation needs to be a good citizen and invest in its Swiss jurisdiction
- The foundation can reinvent itself from this crisis to become more effective for the community.
Additionally, Hopkinson outlined his personal wish list and outlook for the future.
In this article, the relationship between The Cardano Foundation and its counterparts are outlined.
- IOHK — Responsible for developing the core protocols that compose Cardano while meeting established academic and scientific standards.
- Emurgo — Builds global relationships with developers and instigates projects for Cardano.
- The Cardano Foundation — Created to promote Cardano while managing, informing, and responding to the needs of their growing international community.
In brief, each of the three separate legal entities serve as a system of checks and balances, designed to prevent the failure of one branch from taking down the entire project
Additional details are available in this article: Cardano Foundation Says Goodbye To Its Chairman.